Wednesday, 1 October 2014
Last updated 11 min ago
Aug 22 2008 | 12:06pm ET
Activist hedge fund Harbinger Capital Management is upping the stakes in a potential battle with New York-area cable television provider Cablevision Systems.
Upping its stake in Cablevision, that is: Harbinger bought more than 7 million additional shares in the Bethpage, N.Y.-based company and now owns an 8.1% stake. The hedge fund had built up a 4.9% stake in Cablevision during the second quarter.
Harbinger said in a statement that is hopes to meet with Cablevision management “in the very near future.” Cablevision, for the first time in years, has been meeting with large investors, as well as its first quarterly dividend. The company said it would consider a payout, share buybacks and spinning off some of its divisions, including Madison Square Garden, which owns basketball’s New York Knicks and hockey’s New York Rangers.
Cablevision, like earlier Harbinger target The New York Times Co., has a dual-share class structure, giving most voting rights to the controlling Dolan family. Harbinger struck a deal with the Times’ controlling Sulzberger family for board representation.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...